Ctrack Holdings (Convergence Partners) Acquires Inseego's Global Telematics Business

December 2, 2024

Inseego Corp. completed the sale of its global telematics business to Ctrack Holdings, a portfolio company of Convergence Partners, for $52 million in cash. The divestiture lets Inseego focus on its core 5G business and repay debt, while Ctrack expands its telematics capabilities and geographic footprint across the UK, EU, Australia and New Zealand.

Buyers
Ctrack Holdings, Convergence Partners
Targets
Inseego global telematics business
Sellers
Inseego Corp.
Location
California, United States
Transaction Type
Divestiture

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